Between 2016 and 2019, Business Email Compromise (BEC) scams cost
American organizations US$3.1 billion in losses and Canadian
organizations US$33.6 million. This type of pervasive scam targets
large and small businesses alike. In the United States, the
frequency of BEC scams has tripled in the last three years with
approximately 80 percent of businesses being targeted.
BEC scams can be difficult to identify and even harder to
recover from. For this reason, understanding the common types of
BEC scams and adopting strategies to protect your businesses from
falling victim is imperative.
Below are some common forms of BEC scams and tips for your
organization to protect itself against this fraud. There is no
one-size-fits-all solution to resisting BEC scams, as your risk
management strategy depends on your specific
situation.
